Administrative reform creates driving force for investment attraction

Administrative formalities is one of key factors directly impacting on investment capital flows. Thus, cutting administrative formalities and strengthening dialogues with enterprises are main measures to improve quality of investment attraction in Haiphong.

In 2018, Haiphong economic zone Management Board has received and resolved 2341 documents under one-door mechanism, reduced administrative formalities, simplified document contents and ensured transparent working style. This makes an important contribution to improving business and investment environment of Haiphong city. As the result, Haiphong’s economic and industrial zones attracted USD 2,3 billion of FDI capital and over VND 42,700 billion of domestic investment capital.

In 2019, Haiphong economic management Board has plan to post up the set of administrative formalities 2018, shorten time of carrying out administrative procedures and strictly deal with red tape behaviors. Haiphong economic zone management Board has also propose the city Party Committee and People’s Committee to consider to increase jurisdiction of issuing investment certificate to projects from below USD 20 million to below USD 100 million with aim to further save time and procedures for investors./.